Evaluating the Results of a Marketing Decision Involves

question 52

Multiple Choice

Evaluating the results of a marketing decision involves

• A) asking prospective customers if they are likely to buy the product during a specified future time period.
• B) requesting the firm's salespeople to estimate sales during a coming period.
• C) collecting data from marketing experts about changes in the environment.
• D) collecting projections from all regional sales managers and making projections based on a region-to-region basis.
• E) monitoring the marketplace to determine if action is necessary in the future.

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Definitions:

Dress Shirts

Garments with a collar, a full-length opening at the front from the collar to the hem, and sleeves with cuffs, typically worn for formal occasions or as part of office attire.

Complementary Goods

Products and services that are used together. When the price of one falls, the demand for the other increases (and conversely).

Income Elasticity

A measure of how much the demand for a good or service changes in response to a change in consumers' income.

Inferior Good

A type of good for which demand decreases as the income of consumers increases, conversely, demand increases when consumer income decreases.